Series 2017 SRF Bond Closing

The Illinois Finance Authority (the “Authority”) State of Illinois Clean Water Initiative Revolving Fund Revenue Bonds (“SRF Bonds”), Series 2017 closed on September 12, 2017. Issued in the aggregate principal amount of $560,025,000.00, the Series 2017 SRF Bonds were sold at a premium, providing $661,355,000.00 of net bond proceeds (after cost of issuance and underwriter’s discount) for deposit in the Illinois Environmental Protection Agency (“IEPA”) Clean Water Loan Fund and Drinking Water Loan Fund. The Authority attributes the accomplishment to the outstanding work of IEPA staff, whose dedication to providing low-interest loans to eligible public or private applicants for the design and construction of a wide variety of projects that protect or improve the quality of Illinois’ water resources, made the SRF Bond closing successful.

Authority’s Rise in National Rankings

As a result of the successful Series 2017 SRF Bond closing, Illinois now ranks 11th in national rankings among SRF Bond issuers from 1989 to present having issued approximately $1.482 billion in total. This overall ranking is primarily attributable to Illinois issuing $1.202 billion over the last four years alone (i.e., the Series 2013, Series 2016 and Series 2017 SRF Bonds). The Authority’s last three SRF Bond issues were large enough to rank Illinois 4th in national rankings among SRF Bond issuers from 2013 to present (Link: SRF National Rakings). The Authority expects to remain among the top SRF Bond issuers in the coming years by issuing SRF Bonds on a continued, regular basis.